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The Serious Fraud Office was accused of “institutional failure” yesterday
after conceding that it must review its investigation into the tycoon
Vincent Tchenguiz as a “matter of urgency”.

Lord Goldsmith, QC, who is representing Mr Tchenguiz, told the High Court that
the actions of the SFO during the investigation raised the question of its
“fitness for purpose”. His scathing criticisms came after a series of
concessions by the SFO on the eve of a judicial review challenge by the
property magnate and his brother, Robert.

The SFO had conceded that it was liable to pay Mr Tchenguiz’s damages for
disruption